Opinion

A man from San Francisco will go to jail after a US court convicted him of multi-million dollar cryptocurrency fraud, as the Department of Justice (DOJ) said in a statement on Tuesday. 33-year-old Jerry Guo was sentenced to six months in prison by US District Judge Beth Labson Freeman and nearly $4.4 million in restitution after pleading guilty to ICO fraud. During the ICO craze height in 2018, Guo introduced himself to his clients as an ICO advisor and offered…

Bullish news for the cryptocurrency industry as yet another publicly-traded company has joined the Bitcoin bandwagon with a hefty $150 million investment.  According to a Monday press release, Marathon Patent Group, a Nasdaq-listed company, has purchased 4,812.66 BTC as part of its treasury reserve.  The company said it purchased the cryptocurrency through the New York Digital Investment Group (NYDIG) at an average price of $31,168 per bitcoin, amounting to a total of $150 million.   According to Marathon's chairman and CEO,…

Chainlink set a new all-time high of $25.51 at 15:30 UTC Saturday, following a sharp rise over the past week. The milestone propelled Chainlink to the seventh spot on top cryptocurrencies by market cap, surpassing Litecoin. LINK, the native token of decentralized oracle provider Chainlink, has been one of the best performing crypto assets of the past year. This success is primarily attributable to the project’s development of smart contracts that connect blockchains to the real world. According to LINK…

No one can argue that Bitcoin has come a long way in terms of buying power. In its early days, Bitcoin transactions involved thousands of coins and were often made for items that today would seem ridiculous. However, it’s important to consider that no one was sure how successful Bitcoin would become in its early years.  Bitcoin wasn't the first digital currency. It was the culmination of many different attempts to create a reliable digital currency. Specifically, Bitcoin was the…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $950 billion. Bitcoin lost nearly 7% over the week to trade at around $32,000. Ethereum gained almost 10% in value to trade above $1,300. XRP and Polkadot settle on their previous gains while trading in the green. The DeFi sector adds more than $2 billion to the total value of locked protocols. Crypto Trends…

The world’s largest independent business intelligence firm, Microstrategy, has completed 314 bitcoins for approximately $10 million. This purchase continues the accumulation of crypto assets by the intelligence firm, which began in 2020. 70,714 BTC in Microstrategy Portfolio Microstrategy CEO Michael Saylor revealed the purchase by his firm on Twitter. According to the tweet, the bitcoins were bought using cash per its treasury reserve policy.  In total, this latest round of bitcoin purchases totaled $10 million, including fees and expenses. The…

With investors losing faith in fiat currencies and traditional payment systems, many argue that cryptocurrency, particularly bitcoin, is a viable replacement, and it has changed the concept of money.  Some companies worldwide are already accepting crypto payments. Even PayPal has integrated cryptocurrencies like Bitcoin and Ethereum into its payment network and is set to allow customers to use them for purchases later this year, a move that could foster mass adoption.  Crypto Not A Proper Currency However, Paul Donovan, chief…

A new report shows that crypto investors are, on average older than they were a few years ago. Could this be a sign of the growing adoption of cryptocurrencies globally? Older investors take to cryptocurrency There is a conception that cryptocurrency has more adoption among young people who are likely to be aware of the technology. This trend appears to be changing in recent years as Bitcoins gain mainstream popularity. A recent report on the adoption of cryptocurrencies published by…

Despite Bitcoin's remarkable performance over the last ten months, JPMorgan Chase & Co. cross-asset strategists believe that the leading cryptocurrency is not a good hedge during severe market conditions.  In a Thursday report, the bank's strategists - John Normand and Federico Manicardi - wrote that Bitcoin has proven to be weak at withstanding "short-term drawdowns" during terrible market crashes.  Investing in Bitcoin can be the best way to protect against the loss of faith in fiat or traditional payment system.…